FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Inventory records for Herb's Chemicals revealed the following:
March 1, 2024, inventory: 1,550 gallons @ $8.3 per gallon = $12,865
Purchases:
Sales:
March 10
March 5
510 gallons
March 16
March 14
810 gallons
March 23
March 20
610 gallons
March 26
810 gallons
Ending inventory assuming LIFO in a perpetual inventory system would be:
Multiple Choice
710 gallons @ $8.35
910 gallons @ $8.40
710 gallons @ $8.45
$9,482.
$9,562.
$9,502.
$9,382.
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